India is asking the U.S. to extend the exemption on Russian oil imports due to risks in the energy market

India has asked the United States to extend a special exemption that allows the import of Russian oil. The current exemption expires on May 16.

Bloomberg reported this, citing sources.

New Delhi justifies its request by citing instability in the global energy market amid the war in the Middle East.

According to the publication, the Indian side emphasizes the risks to the country’s energy security, particularly due to the possible extension of the blockade of the Strait of Hormuz and the overall volatility of the oil market.

Indian officials have warned Washington that disruptions in energy supplies could have broad socioeconomic consequences, including an impact on the population’s access to basic resources.

“Indian officials have warned the U.S. that supply remains a priority due to ongoing volatility in the oil market, which will have far-reaching consequences, including an impact on Indians suffering from a shortage of cooking gas,” notes Bloomberg.

A special U.S. exemption for Russian oil imports was first introduced in March and later extended until mid-May. This decision was partly driven by Washington’s desire to curb rising global oil prices.

Although Russian oil is not formally subject to general sanctions, the U.S. had previously urged India to reduce its purchases as part of pressure on Russia over the war against Ukraine.

So far, there have been no official comments from India’s Ministry of Petroleum, the country’s Ministry of External Affairs, or the U.S. Department of the Treasury regarding New Delhi’s request.